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Pension Reform in China: Progress and Prospects

Author

Listed:
  • Felix Salditt
  • Peter Whiteford
  • Willem Adema

Abstract

China is currently in the process of developing the largest pension system in the world, and it is doing this at a time of unparalleled economic and demographic transition. The central government has followed a step-by-step approach to develop a system that can accommodate a rapidly aging society within a rapidly growing, but still largely underdeveloped economy. This paper analyses how far the process of creating a national old age insurance system had proceeded by the end of 2006. It provides a detailed description of this system and an assessment of to what degree it has so far achieved ?its primary goal of social security for more people? (Chinese Government, September 2006)... La Chine est en train de mettre en place le plus grand système de retraite au monde, ceci à une époque de transition économique et démographique sans précédent. Le gouvernement central a suivi une approche graduelle pour créer un système qui puisse faire face à une société vieillissante dans une économie galopante et encore pour une bonne part sous-développée. Ce document montre jusqu'où le processus de création d'un système d'assurance national pour les personnes âgées a pu aller jusqu'à la fin de 2006. Il présente une description détaillée de ce système et évalue dans quelle mesure il a atteint au jour d'aujourd'hui « son objectif premier qui est la sécurité sociale pour plus de personnes » (Gouvernement chinois, septembre 2006)...

Suggested Citation

  • Felix Salditt & Peter Whiteford & Willem Adema, 2007. "Pension Reform in China: Progress and Prospects," OECD Social, Employment and Migration Working Papers 53, OECD Publishing.
  • Handle: RePEc:oec:elsaab:53-en
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    File URL: http://dx.doi.org/10.1787/177401288023
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    Cited by:

    1. Zheng Song & Kjetil Storesletten & Yikai Wang & Fabrizio Zilibotti, 2015. "Sharing High Growth across Generations: Pensions and Demographic Transition in China," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(2), pages 1-39, April.
    2. Titelman, Daniel & Vera, Cecilia & Perez Caldentey, Esteban, 2008. "The Latin American experience in pension system reform: Coverage, fiscal issues and possible implications for China," MPRA Paper 13730, University Library of Munich, Germany.
    3. Iris Claus & Les Oxley & Yong Cai & Yuan Cheng, 2014. "Pension Reform In China: Challenges And Opportunities," Journal of Economic Surveys, Wiley Blackwell, vol. 28(4), pages 636-651, September.
    4. Guonan Ma & Wang Yi, 2010. "China’s High Saving Rate: Myth and Reality," International Economics, CEPII research center, issue 122, pages 5-39.
    5. Wang, Lijian & Béland, Daniel & Zhang, Sifeng, 2014. "Pension financing in China: Is there a looming crisis?," China Economic Review, Elsevier, vol. 30(C), pages 143-154.
    6. Wenchao (Michelle) Jin, 2016. "Explaining low employment rates among older women in urban China," IFS Working Papers W16/24, Institute for Fiscal Studies.
    7. Arjan de Haan, 2010. "A defining moment? China's social policy response to the financial crisis," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(6), pages 758-771.
    8. Heikki Oksanen, 2010. "The Chinese pension system - First results on assessing the reform options," European Economy - Economic Papers 2008 - 2015 412, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • P36 - Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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